COLLATERAL -- ARENA BONDS BUT THAT IS NOT CLEAR IF THAT CAN HAPPEN NOW. THE BATTLE BETWEEN THE TEACHERS UNION AND A SCHOOL DISTRICT. JANET O IS LIVE WHERE A SPECIAL MEETING WILL BE HELD TO DISCUSS STATE INTERVENTION. TONIGHT'S MEETING HERE WILL BEGIN THE FORMAL PROCESS OF A POSSIBLE STATE TAKEOVER. BOTH SIDES TOMMY THEY WILL REACH AN AGREEMENT BEFORE THAT HAPPENS. NEARLY A YEAR LATER, NEGOTIATIONS HAVE STALLED. ASK THE TEACHERS ASSOCIATION IS ONE GROUP THAT HAS NOT COME TO AGREEMENT. THE DISTRICT IS ASKING TEACHERS TO TAKE A TEMPORARY 11% PAY CUT. ONCE WE PAY BACK THE LOAN, WE CAN TURN THAT MONEY BACK INTO THE SALARIES. THE DISTRICT IS IN THE RED IT HAS BEEN IN A FINANCIAL MESS FOR YEARS. SOMETHING ADMINISTRATORS SAY GOES BACK TO DECLINING ENROLLMENT AND NOT ENOUGH SALARY CONCESSIONS TO MAKE UP WORK. TEACHERS HAVE ALREADY MADE SACRIFICES BY TAKING PAY CUTS FOR THE PAST FOUR YEARS. WE KEEP FINANCING DIFFERENT MISTAKES. WE ARE THE LOWEST PAID TEACHERS IN THE COUNTY. STUDENTS SAY THEIR EDUCATION HAS NOT BEEN AFFECTED. I AM PARENTS ARE HOPING FOR A RESOLUTION. IT IS ABOUT FIXING THE PROBLEM AND GETTING AN EDUCATION FOR OUR KIDS. IT IS NOT ABOUT LAME NO MORE. I DO NOT PLAN ON LOSING MY KIDS REGARDLESS OF WHAT HAPPENS. I AM HAPPY WITH ALL THE TEACHERS AND I JUST SUPPORT THE WHOLE SCHOOL DISTRICT. TEACHERS SAY THEY WILL TAKE SOME SORT OF PAY CUT BUT THE DEVIL IS IN THE DETAILS. THERE IS NO DEADLINE OR WHEN THE PARTIES NEED TO REACH AN AGREEMENT BEFORE THE STATE TAKES OVER AND IF THAT DOESN'T HAPPEN ALL THAT WILL CHANGE IS THE DISTRICT WILL OWE THE STATE MONEY FOR RUNNING THEIR OPERATIONS.